This annual economic forecast for the province of Nova Scotia examines the economic outlook for the province, including gross domestic product (GDP), output by industry and labour market conditions.
Population Aging Will Constrain the Economy: Nova Scotia’s 20-Year Outlook
Population Aging Will Constrain the Economy: Nova Scotia’s 20-Year Outlook
Provincial Economic Analysis
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Following a plunge in 2020 during the pandemic and a fast rebound in the next two years, Nova Scotia’s economic growth will gradually slow down and align with the potential GDP over the long term. The province’s real GDP is forecast to grow by an average annual rate of 0.9 per cent between 2023 and 2040.
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